Brent crude briefly tops $119 as Iran attacks Gulf energy sites

Brent crude oil spiked to $119 per barrel Thursday after Iran attacked energy sites in the Gulf region, then retreated to around $112 as markets absorbed the shock. The price swing represents a more than 3 percent jump from Wednesday and underscores oil's sensitivity to geopolitical disruption in one of the world's most critical energy-producing regions. Energy markets remain volatile amid ongoing Middle East conflict, with crude responding sharply to any threat to Gulf infrastructure or shipping routes that supply global oil supplies. The brief spike above $119 suggests traders are pricing in risk of potential supply disruptions, even as prices have since moderated from the intraday high.